Should I Consider Replacing My Executor?

Legal Tips and Resources

Estate plans are meant to function as living documents. Practically speaking, this means that as an individual’s life, circumstances and wishes evolve, an estate plan is generally constructed so that it can also evolve accordingly. To that end, it makes good sense to check in with one’s estate planning attorney when major changes in finances, family structure or individual preferences occur. This rule of thumb not only applies to specific gifts outlined in a will or terms of a trust that may be amended. It also applies to an individual’s choice of executor.

If you have questions about replacing the individual you have currently designated as executor of your estate, please consider connecting with our firm today. After learning about your preferences and concerns, we will be able to advise you of your options. We are passionate about ensuring that our clients’ estate planning choices and desires are legally enforceable and ultimately respected. Please do not hesitate to reach out as soon as you can, given that none of us truly knows when our estate plans will become genuinely urgent business.

Why Replace Your Executor?

There are times when replacing your executor is an optional matter and times when it is strictly necessary. For example, if your executor has passed away, it is important to name a replacement immediately. Failure to do so leaves your estate vulnerable, as a court may see fit to name an executor of its choosing rather than respecting the option of whomever you have in mind to serve as your next selection.

But you may also replace your current designated executor simply because you want to. Oftentimes executor changes occur when families experience divorce or evolve in ways that change the relationships within them. Similarly, many executors are replaced after individuals realize that there is someone in their life who is more capable of handling that responsibility more completely. There is no right or wrong reason to change your executor. Your estate plan is your business. The only significant consideration you may want to make when initiating a change is letting both your current and replacement executors know about your decision. That way, no one struggles with the news later or tries to challenge your wishes in court after you’re gone.

Estate Planning Assistance Is Available

If you have questions about any element of the estate planning process, please consider scheduling a consultation with an attorney from an estate planning law firm Ridgefield, CT turns to today. The beauty of estate plans as living documents is that you may generally edit and tweak your preferences as often as you need to. The financial and practical issues you choose to highlight and address within your estate plan are serious in nature, so you should not be self-conscious about amending your wishes, even if you do so often. Few things are more important than ensuring that your wishes are respected towards the end of life and after death. An attorney can help you plan for your future and prepare for your family’s future.

 


 

Thank you to our friends and contributors at Sweeney Legal, LLC for their insight into estate planning and choosing an executor.

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